Movements in equity and bond indices
The MSE Equity Total Return Index lost its winning streak, closing 0.7% lower at 8,751.185 points. A total of 22 issues were active, as six headed north while another 10 closed in the opposite direction. The total weekly turnover fell slightly by €0.07m to €0.4m. This was generated across 134 transactions.
The MSE Corporate Bonds Total Return Index registered a 0.1% loss, as it closed at 1,187.124 points. A total of 63 issues were active, 27 of which traded higher while another 18 lost ground. The 5.5% Juel Group plc Secured 2035 was the best performer, as it closed 1.4% higher at €104.46. On the other hand, the 4.3% Mercury Projects Finance plc Secured 2032 ended the week 2% lower at €98.05.
The MSE MGS Total Return Index posted a 0.1% gain, as it reached 947.267 points. Out of 15 active issues, seven advanced while another seven declined. The 4% MGS 2032 headed the list of gainers, as it closed at €105.26, equivalent to a positive 0.4% change. Conversely, the 2.1% MGS 2039 closed 5.5% lower at €81.15.
Top 10 market movements
International Hotel Investments plc (IHI) saw a decline of 4.4% in its share price, closing the week at €0.43. The equity traded between a high of €0.44 and a low of €0.424, with a total of six trades involving 8,018 shares and generating a turnover of €3,436.
Bank of Valletta plc closed unchanged at €2. The bank recorded the highest weekly turnover of €176,380, with 88,695 shares traded across 34 transactions.
HSBC Bank Malta plc recorded a 1.3% decline in its share price, reversing the previous week’s gain, to end at €1.55. This was the result of 11 transactions, with a total value of €33,226. The equity is currently trading 8.4% higher year-to-date.
Similarly, APS Bank plc saw a 1.6% decrease, closing at €0.61. The equity’s trading activity consisted of 11 deals involving 26,660 shares, generating a turnover of €16,317.
Lombard Bank Malta plc recorded a 3.4% positive movement, recovering part of the previous week’s decline, to close at €0.77. This was a result of three trades involving 11,368 shares, which resulted in a turnover of €8,708.
FIMBank plc experienced a 6.3% decrease in its share price, closing at $0.15. The bank’s trading activity was limited to just one trade, with a value of $1,200.
RS2 plc ordinary shares declined by 2.5%, closing at €0.39. The equity saw a total of 63,951 shares exchanging hands across 13 transactions, generating a turnover of €25,029.
VBL plc entered into a long-term lease agreement with Ruby Hotels Ltd for the Silver Horse Building in Valletta
BMIT Technologies plc recorded a 3.6% increase, returning to the €0.35 level. Nine deals involving 102,035 shares generated a total turnover of €34,183.
GO plc closed at a weekly low of €2.68, reflecting a decline of 1.5%. The equity saw 3,969 shares trade over four transactions, generating a turnover of €10,750.
Simonds Farsons Cisk plc experienced a 2.4% drop in its share price, closing the week at €6.10. The equity featured in four trades worth a total of €12,478, in which 2,033 shares changed ownership.
Company Announcements
IHI has announced that a joint venture, in which it holds a minority stake, has acquired two neighbouring hotels in a prime Beverly Hills location. The 100-room property, currently operating as Maison and Mosaic Hotels, will undergo refurbishment while continuing under their existing branding. Local operator Palisociety will manage the hotels under IHI’s supervision.
VBL plc has entered into a long-term lease agreement with Ruby Hotels Ltd for the Silver Horse Building in Valletta. Ruby Hotels, known for its ‘Lean Luxury’ philosophy, recently partnered with InterContinental Hotels Group (IHG), granting it access to IHG’s extensive global distribution network. This collaboration is expected to enhance the future operations of the Silver Horse Building.
The lease agreement is contingent upon the completion of the property to Ruby Hotels’ specifications. Once finalised, the lease is anticipated to significantly boost VBL Group’s revenues starting from the 2026 financial year, with projections indicating an increase in operational EBITDA by three to four times.
Malta Properties Company plc (MPC) recorded a profit after tax of €2.54m in 2024, an increase from €2.06m in 2023. At group level, total income for the year increased by 13.5% from the previous year and reached €5.69m. Alongside increases in revenues and operating profits, the group’s effort in enhancing its property portfolio primarily through property renovations led to an increase in its property portfolio value of 3.1% over the previous year.
MPC expects a temporary revenue decline in early 2025 due to lease expirations but is actively seeking new tenants and renovating properties. Despite this, the company remains optimistic about Malta’s economic resilience and anticipates a moderate recovery in construction investment.
The board has recommended a net dividend of €0.014 per share, amounting to €1.4m. This proposal is subject to approval at the AGM scheduled for May 22, 2025.
MedservRegis plc announced that the AGM will be held on May 29, 2025.
This article, compiled by Jesmond Mizzi Financial Advisors Limited, does not intend to give investment advice and the contents therein should not be construed as such. The company is licensed to conduct investment services by the MFSA and is a member of the Malta Stock Exchange and the Atlas Group. The directors or related parties, including the company, and their clients are likely to have an interest in securities mentioned in this article. For further information contact Jesmond Mizzi Financial Advisors Limited at 67, Level 3, South Street, Valletta, tel: 2122 4410, or e-mail info@jesmondmizzi.com.